Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
ANNOUNCEMENT
LITIGATION INVOLVING A WHOLLY-OWNED SUBSIDIARY
This announcement is made by Shenwan Hongyuan (H.K.) Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap.571 of the Laws of Hong Kong) (the "SFO").
The board of directors (the "Board") of the Company was recently notified by Shenwan Hongyuan Securities (H.K.) Limited ("SWHY Securities (H.K.)"), a wholly-owned subsidiary of the Company, that it was one of the named defendants of a securities class action lawsuit filed in the Supreme Court of the State of New York County of New York (the "Lawsuit") along with a NASDAQ listed company (the "US Listed Company" ), four senior officers of the US Listed Company at the time of its offering and the sole book running manager in the offering, regarding alleged misrepresentations and omissions in its securities offering documents. SWHY Securities (H.K.) was a co-manager in the offering of the US Listed Company.
SWHY Securities (H.K.) is currently seeking legal advice in relation to the merits of the Lawsuit and will contest it vigorously. Since the Lawsuit is still in the preliminary stage, the Company will closely monitor the Lawsuit and evaluate its impact on the Group, while its current business and operation remains as usual.
The Company will update the shareholders and potential investors on material developments regarding the Lawsuit when appropriate in compliance with the Listing Rules and the SFO.
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Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.
By order of the Board
Shenwan Hongyuan (H.K.) Limited
Qiu Yizhou
Executive Director & Chief Executive Officer
Hong Kong, 30 April 2021
As at the date of this announcement, the Board comprises nine directors, of which Mr. Fang Qingli, Mr. Guo Chun, Mr. Zhang Jian, Ms. Wu Meng and Mr. Qiu Yizhou are the executive directors; Mr. Zhang Lei is the non-executive director; Mr. Ng Wing Hang Patrick, Mr. Kwok Lam Kwong Larry and Mr. Chen Liqiang are the independent non-executive directors.
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